Hey Red — It seems like so long ago we saw the fake print on DIA. Now, we’re nearly there! I really do think we hit it as we chop around next week. I do not expect any sort of downside push until after opex.
I have been (unleveraged) long in my 401K since Jun 8th. It might be time to reduce risk exposure and hide in short term gov’t securities and bonds for a while.
Some charts ($RUT) are showing activated IHS patterns. The most downside a bear can really expect is a back-test of the necklines. IMO, of course.
Hello there Dee, I use different settings of the MACD as a guide. I notice there is almost always weakness before a plunge, they are not showing any weakness yet. Hopefully they will start to curl down beginning tuesday and start a nice downturn. I just dont see it yet. I’m getting so tired of seeing the bs, I dont know about you? Anyway, my conclusion matches Dans.
Reading some other blogs (EW) and here is what Daneric says… 1300 may be the number we should have waited for … isn’t 13 a really significant number as well? http://danericselliottwaves.blogspot.com/
Studying the chart – in a longer view – looks like it may be forming the right shoulder of an IH&S with the right shoulder being back in June… I hope I am wrong and it doesn’t confirm.
Hey Red — It seems like so long ago we saw the fake print on DIA. Now, we’re nearly there! I really do think we hit it as we chop around next week. I do not expect any sort of downside push until after opex.
I have been (unleveraged) long in my 401K since Jun 8th. It might be time to reduce risk exposure and hide in short term gov’t securities and bonds for a while.
Some charts ($RUT) are showing activated IHS patterns. The most downside a bear can really expect is a back-test of the necklines. IMO, of course.
GOLD MINERS Chart
http://niftychartsandpatterns.blogspot.com/2011/01/gold-miners-technical-analysis.html
Weekly chart has a possible IH&S. But we have to wait and see if right shoulder gets completed according to the rules of the pattern.
Hello there Dee, I use different settings of the MACD as a guide. I notice there is almost always weakness before a plunge, they are not showing any weakness yet. Hopefully they will start to curl down beginning tuesday and start a nice downturn. I just dont see it yet. I’m getting so tired of seeing the bs, I dont know about you? Anyway, my conclusion matches Dans.
Click on the “photo” button on the toolbar below to see all the FP’s that I’ve uploaded to Flickr.com, and here is the direct link to the vix print…
http://reddragonleo.com/wp-content/uploads/2010/06/VIX-Fake-Print-349-72.jpg
Reading some other blogs (EW) and here is what Daneric says… 1300 may be the number we should have waited for … isn’t 13 a really significant number as well?
http://danericselliottwaves.blogspot.com/
Studying the chart – in a longer view – looks like it may be forming the right shoulder of an IH&S with the right shoulder being back in June… I hope I am wrong and it doesn’t confirm.
ok – where would that VIX upside reading put the SPX?
you love this
http://en.wikipedia.org/wiki/11_July_2006_Mumbai_train_bombings
11 & 7 are very significant numbers..together.
INTEL Daily chart analysis
http://niftychartsandpatterns.blogspot.com/2011/01/intel-corp-bearish-engulfing-pattern.html